Nuvei Introduces Direct Acquiring in Colombia, Expanding LATAM Presence

This simplification in payment processing grants e-commerce businesses more control over transaction flows and enables a more localized payment experience for customers.

Philip Fayer, Nuvei’s Chairman and CEO, emphasizes the importance of this launch in reinforcing Nuvei’s commitment to growth in LATAM.

Already operational in over eleven LATAM markets through direct integrations with local acquirers and networks, adding Colombia to this list enhances Nuvei’s ability to deliver top-tier services across the region.

With local acquiring capabilities in 50 markets and connections to 680 local payment methods, Nuvei is making hyper-localized payments possible on a global scale, supporting businesses in their international expansion while optimizing payment functions.

This development is especially pertinent given Latin America’s status as one of the fastest-growing regions globally, with Colombia ranking as its third-largest e-commerce market. In 2023, Colombia’s e-commerce volume hit $42.3 billion, with projections to reach $87 billion by 2026, indicating a compound annual growth rate of 27%.

The direct acquiring capabilities introduced by Nuvei in Colombia aim to enhance authorization rates, reduce settlement times to potentially under 24 hours, and optimize processing resource commitments for e-commerce businesses targeting Colombian customers.

Nuvei’s modular, flexible, and scalable technology empowers businesses worldwide to accept cutting-edge payments, offer all payment options, and access card issuing, banking, risk, and fraud management services.

Connecting businesses with their customers across more than 200 markets, with local acquiring in 50 markets, 150 currencies, and 680 alternative payment methods, Nuvei delivers the technology and insights needed for customers and partners to thrive locally and globally with a single integration.